- Airtel Money Kenya, Britam and Inclusivity solutions unveiled a partnership that seeks to introduce affordable insurance cover tailored for individuals and families.
- The newly launched partnership is targeting millions of Kenyans who are currently unable to access the formal insurance sector.
Airtel Money Kenya, Britam and Inclusivity solutions on Wednesday unveiled a partnership that seeks to introduce affordable insurance cover tailored for individuals and families.
The partnership seeks to enhance access to comprehensive cover and will be offered to customers through Airtel Money and targets those who are unable to access such services.
By dialing *334# on an Airtel line, Airtel Money customers will be able to buy Hospital Cash, Last Expense (Funeral) and Personal Accident insurance covers or a combination of the three.
The Hospital Cash (Hospicash) cover provides policyholders with a daily cash payment of Sh500 for each night spent in hospital from the 3rd day up to a maximum of 30 days yearly, protects against loss of income and medical expenses and is available for a Sh40 premium per month for individuals and Sh170 monthly for a family of up to 4 members.
The Last Expense cover is meant to lessen the financial burden of funerals and offers a lumpsum payout of Sh100,000 to cover income loss, outstanding bills, and burial expenses and is attracts a monthly premium of Sh40 monthly for individuals and Sh170 per month for a family of up to 4 members.
The Personal Accident cover protects a customer in case of Permanent Disability or Death caused by an accident and provides a payout of Sh100,000 and has Sh35 monthly premium for individuals or Sh150 per month for a family of up to 4 members.
On the other hand, Combo Benefit, which combines Hospital Cash, Accidental/Natural Death, and Permanent Total Disability covers, provides comprehensive protection for the customer and their loved ones with Sh100, and Sh420 monthly premium for individuals and families, respectively.
To qualify for the insurance solutions, one must be aged between 18 and 65.
Speaking during the launch, Airtel Money Kenya Managing Director Anne Kinuthia – Otieno lauded the partnership saying it will improve the uptake of insurance through Airtel Money.
“By leveraging the power of Airtel Money, we are revolutionizing the insurance landscape, making it more accessible, efficient, and customer friendly,” said Anne.
She added, “This partnership aligns perfectly with our commitment to enhancing financial inclusion and offering our customers greater control over their financial well-being through affordable products and services."
Britam Director of Partnerships and Digital Evah Kimani says the deal with Airtel Money Kenya and Inclusivity Solutions will offer customers innovative and affordable insurance covers.
“Through this partnership, we aim to reach out to millions of Kenyans who do not have access to formal insurance and provide them with protection against various risks that can affect their livelihoods and well-being," said Evah.
Inclusivity Solutions CEO Indira Gopalakrishna lauded the three-way partnership saying it provides an opportunity to anchor the technology behind the innovative digital solution.
“Our award-winning digital insurance platform enables us to easily launch embedded insurance products and we are excited to bring this innovative product to customers in Kenya,” Gopalakrishna said.
The newly launched partnership is targeting millions of Kenyans who are currently unable to access the formal insurance sector.